March 2025: Healthcare M&A Snapshot

View our summary of the key M&A, private equity and venture capital deals across the UK healthcare sector in March 2025 below.

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Notable Sector Deals: March 2025

BGF’s investment in OCL Vision

• A significant multi million-pound investment from BGF into private eye care provider OCL Vision

• Offering the full spectrum of ophthalmic procedures, OCL Vision operates clinics in London and Hertfordshire and performs c.4,000 procedures annually

• The investment will allow OCL to scale its operations, expand nationwide and invest back into the company through marketing and new technology

• Rising demand for private eye care, driven by PMI and self pay model growth, alongside long NHS waiting times, is creating new opportunities for independent ophthalmology providers

Acquisition of Cyber Media Health by Mayden Group

• A well aligned acquisition for G Square-backed Mayden Group, with the addition of health tech company Cyber Media Health and Wellbeing Solutions

• Cyber Media provides a case management system, Theseus, which supports a range of services including drugs and alcohol, smoking cessation, social prescribing and weight management

• The addition of Cyber Media will allow Mayden to support a greater number of services as the business looks to diversify under G Square’s ownership

• Proven healthcare software solutions continue to be in demand by investors and acquirers, with ongoing digitalisation of the sector increasingly key in creating efficiencies

Eden Futures’ acquisition of Care Wish

• A highly complementary care deal for Sovereign-backed Eden Futures, with the acquisition of supported living provider Care Wish

• Based in the West Midlands, Care Wish provides supported living services with a team of c.95 staff members

• Eden provides supported living services across the Midlands and North England, caring for over 700 people with learning disabilities, autism and mental health conditions

• The deal strengthens Eden’s presence in the West Midlands and introduces a new transitionary service for young people moving from children’s homes into supported living

Merger of PHL Group and Malling Health

• PHL Group, backed by Ethos Partners, has merged with primary care service provider Malling Health

• Malling Health offers a range of primary care services including urgent care centres and GP practices across the Midlands and East Anglia

• The merger strengthens PHL Group’s position in the sector, broadening its geographical reach and service capabilities

• This is PHL Group’s second major transaction following its acquisition of Synaptik in 2022, aligning with Ethos Partners’ strategy to enhance the service offering and expand market presence

Healthcare Market Activity: March 2025

Private Equity Activity

Sub-sector	Target	Acquirer / Investor	Exiting PE
Clinical Services	OCL Vision	BGF	N/A
Clinical Services	Malling Health	PHL Group (Ethos)	N/A
Dental	New Life Teeth	57 Stars	N/A
Digital Health	Cyber Media Health & Wellbeing Solutions	Mayden Group (G Square)	N/A
Recruitment	Altruix Group	HCRG (Twenty20 Capital)	N/A
Specialist Care	Care Wish	Eden Futures (Sovereign)	N/A
Specialist Care	Nurture Childcare Services	Pebbles Care (Ardenton)	N/A

Venture Capital Activity

Target	Description	Lead Investor	Investment
Brainomix	AI-powered imaging tools in stroke and lung fibrosis	Parkwalk Advisers	£14m
Eventum Orthopaedics	Device providing real time data for knee surgery	Mercia	£3.8m
ImmunONE	3D human lung model for testing	Midlands Engine Investment Fund	£600k
Maxion Therapeutics	Treatments for inflammatory diseases	General Catalyst	£58m
ReadyGo  Diagnostics	Diagnostic test developer	Maven Capital	£500k
Stroll	AR glasses to treat neurological disorders	IW Capital	£10m